Sunday, 29 January 2012

Mission Impossible - Cheaper Car Insurance

"Your mission, should you choose to accept it, is to save money and find cheaper car insurance. This tape will self destruct in five seconds!"

Recently I got my car insurance renewal form for our 10 year old 1.9 diesel 7-seater car and the renewal had jumped from £400 to £600 and to pay monthly it had gone to £800. 

A massive increase of 200%!!! And to make it worse, I have no points, penalties or endorsements and 10 years no claims history and I only do about 7000 miles a year. So to find my renewal so high was a shock.

I knew I could get it cheaper so I compared prices (and got cashback for doing so) using these I found quotes from £400-£600 which was a lot cheaper than my renewal.

Eventually I decided to go with Tesco Insurance as I got a further discount for being a member of staff and this brought the insurance down to just under £400 and that included paying monthly so I halved my insurance.

I'm still a long way from the record of a years fully comprehensive car insurance of 96p from 2009 but overall I'm happy with it 

For more information, read Martin Lewis' guide at MoneySavingExpert

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